Google Search for Memecoin At ATH: DOGS Price to Rocket ?

The recent spike in Google search interest for “memecoin” marks a significant peak, the highest seen in the past five years. It signals a surging curiosity and enthusiasm among retail investors.

This trend typically indicates that newer, casual participants in the cryptocurrency market are looking towards more speculative and culturally driven investments as their entry point.

Memecoin Mania Begins

The chart shows several noteworthy spikes in interest, with the most recent surge surpassing previous records.

Memecoin interest over time | Source: X

This suggests a renewed or perhaps intensified interest in meme-themed cryptocurrencies. Among these, DOGS on the TON blockchain stands out as particularly poised for growth.

This memecoin, having been airdropped to Telegram users, benefits not only from the general rise in memecoin interest but also from its unique distribution method, which has likely helped fuel its visibility and accessibility to a broader audience.

This alignment of high search interest and strategic coin distribution underscores a potential uptick in DOGS’ popularity and value, echoing the broader enthusiasm driving the memecoin sector at the moment.

DOGS Potential Bullish Breakout

The DOGS/USDT chart highlighted a clear consolidation phase within a symmetrical triangle pattern, signaling an imminent breakout.

DOGS has been trading within this pressure zone, showcasing consistent lower highs and higher lows, which emphasize tightening price action.

This compression often indicated a strong move ahead, either upward or downward, depending on market momentum.

The current price action suggested bullish potential, with the memecoin trading near the upper boundary of the triangle.

The Point of Control (PoC), marked as a significant resistance level, has seen increasing trading activity.

A strong flip above this PoC resistance zone would validate the bullish breakout, potentially triggering a projected 26% upward throwback move, as indicated by the target zone highlighted in the chart.

Volume trends also support this bullish narrative, with rising volume levels signaling growing interest and momentum in the market.

This aligned with the idea that DOGS is gathering strength for a significant move. Should the breakout occur, the projected target area aligns with technical confluences, further supporting the probability of sustained bullish momentum.

For traders, confirmation of the breakout above the PoC with strong volume will serve as a critical entry signal which could propel the memecoin back to its ATHs of $0.001689.

However, failure to break above could result in retesting lower boundaries of the triangle. This setup presents an exciting opportunity for bullish traders monitoring DOGS/USDT.

Volume OI-Weighted Funding Rate

Furthermore, The DOGS/USDT funding rate chart revealed an intriguing pattern, hinting at potential upward momentum if current trends persist.

The volume-weighted funding rate, oscillating beneath the zero line throughout October and early November, suggested a muted bearish sentiment among traders.

However, a noteworthy shift in trading volume and price movement began to emerge in mid-November.

This recent activity was marked by spikes in funding rates that correlate with increases in DOGS’ price, an indication that traders might be gearing up for a larger move.

DOGS Volume Weighted Funding Rate

The aspect to watch was the funding rate’s behavior near the zero boundary. Successful breaks above this level historically correlate with sustained price increases.

Should DOGS break out from its current consolidation wedge pattern and confirm above key resistance levels, the scenario sets a bullish precedent.

Supported by the rising volume OI-weighted funding rate, such a breakout could propel DOGS back towards its all-time high of $0.0016.

The recent funding rate dynamics offer a strong foundation for this optimistic outlook, suggesting that increased trader confidence may soon translate into significant price action.